Steele Capital Management Inc. Invests $213,000 in ProShares UltraPro QQQ (NASDAQ:TQQQ)

Steele Capital Management Inc. acquired a new position in ProShares UltraPro QQQ (NASDAQ:TQQQ) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 3,455 shares of the exchange traded fund’s stock, valued at approximately $213,000.

Other hedge funds have also recently made changes to their positions in the company. Sandy Spring Bank grew its stake in shares of ProShares UltraPro QQQ by 1,113.0% in the 4th quarter. Sandy Spring Bank now owns 558 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 512 shares during the period. Signature Resources Capital Management LLC acquired a new stake in shares of ProShares UltraPro QQQ in the 4th quarter valued at about $29,000. Westend Capital Management LLC acquired a new stake in shares of ProShares UltraPro QQQ in the 1st quarter valued at about $48,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of ProShares UltraPro QQQ in the 4th quarter valued at about $51,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of ProShares UltraPro QQQ in the 1st quarter valued at about $63,000.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ traded up $1.21 during trading hours on Monday, hitting $75.03. The stock had a trading volume of 43,097,714 shares, compared to its average volume of 64,766,660. The firm has a 50 day simple moving average of $64.84 and a 200-day simple moving average of $59.18. ProShares UltraPro QQQ has a 1-year low of $30.47 and a 1-year high of $77.72.

ProShares UltraPro QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th will be paid a $0.2828 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This is an increase from ProShares UltraPro QQQ’s previous quarterly dividend of $0.22. This represents a $1.13 annualized dividend and a dividend yield of 1.51%.

ProShares UltraPro QQQ Profile

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments.